After austerity measures 2024

Domestic Palfinger plants back in full operation

The marine sector is developing very well for Palfinger.

(Bild: Palfinger)

Revenue fell to 2.36 billion euros, the Group result came to 100 million euros and was also lower than in 2023 - none of this stops Palfinger from talking about a very successful financial year. "It is the second-best year in the company's history - that can make us all proud," says CEO Andreas Klauser. The company reacted quickly to the sometimes stuttering demand.

"Palfinger is in a very solid position," emphasized Palfinger CFO Felix Strohbichler, who presented the figures for the past financial year in detail on Thursday morning. Even though the figures for revenue, net profit and employees were lower than in 2023, the crane and lifting solutions specialist is highly satisfied with how the company has coped with the fluctuating order intake.

Fewer shifts, reduced overtime
"The measures we have taken, the actions we have taken, they are working," emphasized CEO Andreas Klauser, a native of Upper Austria who has been at the helm of the company, which operates from Bergheim near Salzburg, since 2018. What measures has Palfinger taken? "We started adjusting our personnel capacities relatively early on," reported board member Maria Koller. The separation from temporary staff took place "very early in the year", as Koller put it. Overtime accounts were reduced to zero, shifts were reduced, a four-day week was in place for months at almost all plants in Europe, and there were also individual amicable separations of employees.

We can strengthen our resilience with our industry diversity.

Andreas Klauser, Vorstandschef der Palfinger AG

"We didn't take any hasty action so that we could also manage the capacity build-up well," they say. Now, in March, the plants in Austria, including the one in Lengau, are back in full operation, revealed Koller. "We won't run out of work, but the daily challenges of managing the business won't get any less," said Klauser. The order backlog is already growing again.

Unused properties are to be sold
The first measures to reduce net financial debt have already been decided. For example, inventories will be further reduced and the company is also planning to sell properties that it had secured in advance but will not need after all. Both steps together will cost around 80 million euros.